Mesabi Trust (NYSE:MSB) Stock Price Up 5.1% – Should You Buy?

Mesabi Trust (NYSE:MSB) traded up 5.1% during mid-day trading on Tuesday . The stock traded as high as $38.25 and last traded at $38.37. 49,609 shares traded hands during trading, a decline of 2% from the average session volume of 50,833 shares. The stock had previously closed at $36.52.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mesabi Trust in a report on Monday, December 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Mesabi Trust Price Performance

The company’s 50-day simple moving average is $34.29 and its 200-day simple moving average is $30.82. The stock has a market capitalization of $503.55 million, a price-to-earnings ratio of 29.30 and a beta of 0.63.

Mesabi Trust (NYSE:MSB) last released its quarterly earnings results on Friday, December 12th. The mining company reported $0.21 earnings per share for the quarter. Mesabi Trust had a return on equity of 79.30% and a net margin of 82.80%.The business had revenue of $3.39 million during the quarter.

Mesabi Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, October 30th were paid a $0.34 dividend. This is a positive change from Mesabi Trust’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, October 30th. This represents a $1.36 annualized dividend and a yield of 3.5%. Mesabi Trust’s dividend payout ratio is presently 103.82%.

Institutional Investors Weigh In On Mesabi Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in Mesabi Trust during the first quarter worth approximately $357,000. MAI Capital Management grew its holdings in shares of Mesabi Trust by 14.6% during the 1st quarter. MAI Capital Management now owns 4,393 shares of the mining company’s stock worth $119,000 after purchasing an additional 561 shares in the last quarter. Royal Bank of Canada increased its position in shares of Mesabi Trust by 14.1% in the first quarter. Royal Bank of Canada now owns 26,662 shares of the mining company’s stock worth $725,000 after purchasing an additional 3,303 shares during the period. Acadian Asset Management LLC acquired a new position in Mesabi Trust in the first quarter valued at about $44,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Mesabi Trust during the second quarter worth about $203,000.

Mesabi Trust Company Profile

Mesabi Trust (NYSE: MSB) is a passive royalty trust that holds royalty interests in iron ore properties located on Minnesota’s Mesabi Iron Range. The trust does not engage in mining operations directly but receives royalty payments based on the volume of iron ore shipped from the underlying properties. These payments are derived from production of iron ore concentrate and taconite pellets sold to domestic and international steel producers.

Established in December 2011, Mesabi Trust was formed through the consolidation of royalty interests contributed by several mining companies.